Bibby appoints Senior Executive to Munster Region
Bibby appoints senior executive to Munster region
Bibby Financial Services Ireland [BFSI], Ireland’s leading invoice finance company, has appointed Mr John Mackey as Senior Business Development Manager for the Munster region it was announced this week.
John, a native of Wexford, will be responsible for developing the company’s business further in the region.
BFSI supports Irish SMEs through invoice finance. Invoice finance allows SMEs to raise finance by converting trade debts into cash. Under such a funding facility, a company can access funds of up to 85% of the value of its invoices. In cash flow terms, this is the equivalent of having 85% of a company’s eligible invoices paid within 24 hours.
As part of the facility, cash is continually delivered to the business, allowing the business to take on new orders, increase its sales and meet payroll commitments while continuing to provide working capital and meet the long-term objective of growing the business.
Bibby Financial Services Ireland recently announced a €60 million fund available to Munster companies in 2014.
Commenting today, Mr Ronan Horgan, Managing Director, BFSI said that John’s appointment is a key promotion in the company’s growth plans:
‘Irish SMEs continue to face challenges in accessing credit to grow and scale their businesses. At a time when traditional bank sources of funding may not be available, SMEs, particularly in the Munster region where the economy is flourishing, need to consider all financing options including alternative sources of finance. Due to the continued growth of our business in the region, John had been appointed to develop the network and work with our existing client base to drive the growth of our business in the region where he is locally available to meet on a day to day basis.
Previously, John was sales team manager for the company, a position he took in January 2013. With over 15 year’s industry experience, John joined BFSI in 2012 to manage the introduction of a range of new products and services for Irish SMEs. This included the launch of Confidential Invoice Discounting, a product that is growing in popularity in Ireland.
Mr John Mackey, Senior Business Development Manager, Bibby Financial Services Ireland said:
‘Our business in the Munster region has grown significantly in recent times. As a vibrant business hub of the South, we are supporting the growth of many scaling Munster-based companies in a variety of industry sectors through our invoice finance products. I look forward to meeting with businesses who are looking for flexible funding options to support and grow their businesses’.